On November 4, 2003 Warren City School District voters approve a $40,672,000 bond issue for the construction and renovation of school buildings throughout the District. The improvements included five new elementary/middle schools to house grades PK through 8 and one new high school to house grades 9 through 12. The total cost of the project was $169,494,219 of which the State of Ohio through its Classroom Facilities Assistance Program provided $137,290,219. Bonds to fund the project were issued on April 20, 2004 with a par amount of $38,000,000 resulting in $2,672,000 of voter approved debt issuance authority in reserve for a future projects. The reason for the reserve was that the District’s assessed valuation experienced a decline between the time the bond levy w

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